Gold prices remain on the rise

Last week, the world gold price surpassed the historical peak of over 3,057 USD/ounce but quickly decreased due to profit-taking pressure from investors. However, the price remained above the psychological support level of 3,000 USD/ounce - a level that many experts predicted would be an important support in the coming time.

The general sentiment in the market is still leaning towards optimism. Many central banks continue to increase their gold reserves as a way to diversify away from the USD. Meanwhile, individual investors and ETFs have also begun to return to the gold market.

Data from the SPDR Gold Shares fund shows that the amount of gold held has increased by more than 37 tons this year, to 910 tons. Although this figure is still lower than in 2020, the upward momentum is returning due to concerns about inflation and escalating trade tensions.